What possible credit issues might I have with a Southwest Florida short sale?

There is no clear way to assess what impact a short sale will have on your credit. If anyone tells you otherwise, they are wrong.
Credit reporting cannot be generalized. FICO scores are a mathematical assessment of your credit performance over time as well as a snapshot of your credit use on that date. No one person would have the same snapshot, so each element of a short sale will have a different impact. The mathematical applications used by Fair Isaac to create the FICO score are not published material. Each late payment would have a negative impact. Each short sale would have a negative impact.
Not every lender reports every negative. We work with credit specialists who assist our clients in clearing up credit issues after the fact.
But with more than 25 years experience in working with and observing credit scoring, it looks clear that a short sale and a foreclosure do not compare to each other. A Deed in Lieu or a Foreclosure will, in most cases, always end up with a very harsh result.
The seller in default is more likely to have a lower credit rating than the seller who succeeds without missing any payments. However, the seller who is not missing payments might not be able to argue that there is any hardship.
A recent Southwest Florida Homeowner pointed out that one of the great bonuses to using our team for Southwest Florida short sales is that have use the services of one of the nation's premier credit repair firms. We assist in credit repair for Southwest Florida Short sales at no cost to the seller.
Each Southwest Florida Homeowner has as different a credit picture as a home to sell. There is nothing that any real estate agent can promise you about how a short sale might affect your credit. The same is true for lawyers and accountants. FICO scores and their calculation are protected proprietary information.
One of the largest single mistakes is using up personal credit cards and unsecured debt to keep the house. We recently had a Lehigh Acres resident call us to explore loan modification. He had been trying on his own for over one year to finally get a rejection from ASC. In the meantime, he used up three credit cards. When it is all over, he will do a short sale to zero out any liability from the house debt BUT will still have those 3 credit cards.
If you think you are headed into housing trouble, act early. Save your resources.
FNMA Guidelines
Guidelines require 24 months post-short sale good credit before qualifying for a new home mortgage. 48 months is required for a Deed in Lieu.